Pakistan’s petrol price reduction has brought the new rate down to Rs378 per litre, with the revised price taking effect from midnight. Prime Minister Shehbaz Sharif said the cut will remain in place for one month as a short-term relief measure to ease pressure on the public.
Alongside the fuel adjustment, the prime minister also announced austerity measures. He said cabinet members will continue without salaries and privileges for the next six months as the government tries to manage financial pressures and demonstrate fiscal discipline.
The latest revision marks a sharp shift, coming just a day after the government announced a major increase in fuel prices. At that time, officials said the petrol price had risen by Rs138 per litre to Rs458.40, while diesel had climbed by Rs184 per litre to Rs520.35.
Minister of State for Finance Ali Pervaiz Malik announced the earlier increase during a press conference, alongside Federal Finance Minister Muhammad Aurangzeb. The move had raised concerns about a new wave of inflation and higher living costs.
The government says the latest petrol rate could directly affect transport costs and overall inflation. Authorities are expected to monitor the situation closely in the coming weeks as households and businesses respond to the revised price.
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Even so, the earlier rise in petrol and diesel prices had already raised concerns about the cost of essential goods. Because fuel prices influence transport and supply chains, large changes can quickly affect daily expenses nationwide.
The petrol price revision did not come alone. The prime minister linked the announcement to broader efforts to reduce state spending and to show financial restraint amid economic pressure. By freezing cabinet salaries and privileges for six months, the government is trying to pair public relief with visible austerity at the top.
